Dr Reddy's Laboratories Tuesday said it has entered into a confidential settlement agreement with the US-based biotechnology firm Celgene for its abbreviated new drug submissions (ANDS) related to a generic version of REVLIMID brand capsules pending before Health Canada.

"Pursuant to this confidential settlement, the parties agreed to discontinue all legal proceedings involving certain of Celgene's Canadian patents related to Lenalidomide and the company's ANDS for a generic version of Celgene's Lenalidomide capsules pending before Health Canada," Dr Reddy's said in a BSE filing.

Dr Reddy's Laboratories said other terms of the agreement are confidential.

Shares of Dr Reddy's Laboratories were trading 0.06 per cent lower at Rs 2,789.40 apiece on the BSE.

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